Wednesday, Mar 19, 2008
NEW Zealand could slip into a recession over the next year, Finance Minister Michael Cullen said, conceding to the prospect of two consecutive quarters of negative growth over the next year.
AUSTRALIAN: NZ may face recession: Minister
NEW Zealand could slip into a recession over the next year, Finance Minister Michael Cullen said, conceding to the prospect of two consecutive quarters of negative growth over the next year.
Analysts nevertheless believe the country's central bank won't need to follow the US Federal Reserve into cutting interest rates any time soon.
Posted by chris @ 01:09 AM (156 views) Add Comment
1 Comment
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1. planning4acrash said...
But with positive interest rates, their slowdown will be relatively short, their currency retaining value.